Simplicity Wealth LLC Invests $303,000 in Webster Financial Co. (NYSE:WBS)

Simplicity Wealth LLC acquired a new stake in shares of Webster Financial Co. (NYSE:WBS) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 5,960 shares of the financial services provider’s stock, valued at approximately $303,000.

Several other institutional investors also recently bought and sold shares of WBS. Essex Financial Services Inc. raised its position in shares of Webster Financial by 6.5% during the first quarter. Essex Financial Services Inc. now owns 20,971 shares of the financial services provider’s stock valued at $1,065,000 after buying an additional 1,285 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in Webster Financial during the first quarter valued at $10,130,000. Global Retirement Partners LLC increased its position in Webster Financial by 1,119.4% during the first quarter. Global Retirement Partners LLC now owns 1,317 shares of the financial services provider’s stock valued at $67,000 after acquiring an additional 1,209 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of Webster Financial by 2.5% during the first quarter. Louisiana State Employees Retirement System now owns 49,500 shares of the financial services provider’s stock valued at $2,513,000 after purchasing an additional 1,200 shares during the period. Finally, Amalgamated Bank boosted its stake in shares of Webster Financial by 4.8% during the first quarter. Amalgamated Bank now owns 117,239 shares of the financial services provider’s stock valued at $5,952,000 after purchasing an additional 5,341 shares during the period. 85.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on WBS shares. JPMorgan Chase & Co. cut their price objective on shares of Webster Financial from $65.00 to $63.00 and set an “overweight” rating on the stock in a report on Wednesday, April 24th. Keefe, Bruyette & Woods reduced their price objective on Webster Financial from $64.00 to $58.00 and set an “outperform” rating for the company in a research note on Wednesday, April 24th. Royal Bank of Canada dropped their price objective on Webster Financial from $57.00 to $54.00 and set an “outperform” rating on the stock in a report on Wednesday, April 24th. Morgan Stanley upped their price objective on Webster Financial from $51.00 to $61.00 and gave the stock an “overweight” rating in a report on Wednesday, February 7th. Finally, StockNews.com raised Webster Financial from a “sell” rating to a “hold” rating in a report on Friday, April 26th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, Webster Financial presently has a consensus rating of “Moderate Buy” and an average price target of $56.23.

Webster Financial Price Performance

Shares of WBS stock traded down $1.31 during trading hours on Thursday, hitting $43.81. The company had a trading volume of 662,101 shares, compared to its average volume of 1,161,606. Webster Financial Co. has a 12 month low of $34.85 and a 12 month high of $53.39. The firm has a market capitalization of $7.51 billion, a price-to-earnings ratio of 8.99, a PEG ratio of 0.56 and a beta of 1.35. The firm’s fifty day moving average is $47.02 and its 200 day moving average is $47.43. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.86 and a current ratio of 0.86.

Webster Financial (NYSE:WBS) last released its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $1.35 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.02). The business had revenue of $667.10 million for the quarter, compared to the consensus estimate of $680.72 million. Webster Financial had a return on equity of 12.55% and a net margin of 21.09%. The firm’s revenue was up .2% on a year-over-year basis. During the same quarter last year, the company earned $1.49 earnings per share. On average, sell-side analysts predict that Webster Financial Co. will post 5.57 EPS for the current fiscal year.

Webster Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, May 6th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.65%. The ex-dividend date of this dividend was Friday, May 3rd. Webster Financial’s dividend payout ratio (DPR) is currently 32.79%.

Insider Activity

In related news, insider Daniel Bley sold 2,280 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $44.80, for a total transaction of $102,144.00. Following the sale, the insider now owns 28,693 shares of the company’s stock, valued at approximately $1,285,446.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.88% of the stock is currently owned by company insiders.

About Webster Financial

Webster Financial Corporation operates as the bank holding company for Webster Bank, National Association that provides a range of financial products and services to individuals, families, and businesses in the United States. It operates through three segments: Commercial Banking, HSA Bank, and Consumer Banking.